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    Jeff Cantwell

    Senior Equity Analyst at Seaport Research Partners

    Jeff Cantwell is a Senior Equity Analyst at Seaport Research Partners specializing in FinTech, where he covers a diverse range of companies including Dave Inc. and others in the financial technology sector. He has delivered strong performance with a success rate of approximately 57.5% and notable individual calls, such as a recommendation on Dave that generated a 229% return. Cantwell began his career after earning his BA from Amherst College in 2004 and completed his MBA at The Hong Kong University of Science and Technology in 2011; his prior roles include Managing Director and head of Payments, Processors, and IT Services Equity Research at Wells Fargo as well as leading FinTech Equity Research at Guggenheim Securities before joining Seaport in 2023. He is a CFA charterholder, recognized for in-depth sector expertise and regularly cited by major financial media.

    Jeff Cantwell's questions to Circle Internet Group (CRCL) leadership

    Jeff Cantwell's questions to Circle Internet Group (CRCL) leadership • Q2 2025

    Question

    Jeff Cantwell of Seaport Research Partners asked for more color on the drivers of USDC growth since the Genius Act's passage, sought clarification on the 40% CAGR growth outlook, and requested a breakdown of the sources of on-chain transaction volume.

    Answer

    Chairman, CEO & Co-Founder Jeremy Allaire attributed post-Genius Act momentum primarily to increased institutional interest. CFO Jeremy Fox-Geen explained the 40% CAGR outlook is a conservative core model, below the 60% median of third-party forecasts. Regarding transaction volume, both executives explained it's geographically distributed and comes from all financial use cases, making specific breakdowns difficult.

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    Jeff Cantwell's questions to ACI WORLDWIDE (ACIW) leadership

    Jeff Cantwell's questions to ACI WORLDWIDE (ACIW) leadership • Q2 2025

    Question

    Jeff Cantwell from Seaport Research Partners asked for details on the unit economics of a stablecoin transaction processed by ACI compared to other payment methods. He also requested a breakdown of the key factors behind the Q3 adjusted EBITDA guidance and what would drive results to the high or low end of the range.

    Answer

    CEO Thomas Warsop explained that unit economics depend on volume; currently, a lower-volume real-time payment for a stablecoin would generate significantly more revenue than a high-volume debit transaction. CFO Robert Leibrock detailed that the Q3 EBITDA guidance reflects a sequential increase in higher-margin Payment Software revenue. The range accounts for the timing uncertainty of closing new high-margin license deals, with a favorable mix of these new signings driving results toward the high end.

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    Jeff Cantwell's questions to DAVE leadership

    Jeff Cantwell's questions to DAVE leadership • Q2 2025

    Question

    Jeff Cantwell questioned the drivers behind the raised full-year revenue guidance, sought clarity on the potential P&L impact from data aggregator fees, and asked about the company's high-level M&A strategy.

    Answer

    CEO Jason Wilk attributed the optimistic guidance to strong new member acquisition, efficient marketing paybacks now at four months, and improved Extra Cash monetization. On data fees, Wilk expressed confidence that prices may not increase due to regulatory pushback and that Dave's scale and pricing power would mitigate any impact. Regarding M&A, he stated the company focuses on opportunities that either expand customer distribution or are accretive to ARPU through new products.

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    Jeff Cantwell's questions to Flywire (FLYW) leadership

    Jeff Cantwell's questions to Flywire (FLYW) leadership • Q2 2025

    Question

    Jeff Cantwell asked for an overall assessment of the education business, wondering if the worst of the headwinds had passed. He also inquired about the execution potential in newer international markets and the incremental impact of the U.S. domestic land-and-expand strategy.

    Answer

    CFO Cosmin Pitigoi noted that Q3 is expected to be the growth low point for the year, with an acceleration into Q4. President & COO Rob Orgel emphasized Flywire's effectiveness in new international markets, where revenue is growing well above the company average. He also explained the U.S. land-and-expand strategy is highly accretive, adding multiple revenue streams, with significant runway as the SFS attach rate is still only around 10%.

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    Jeff Cantwell's questions to Shift4 Payments (FOUR) leadership

    Jeff Cantwell's questions to Shift4 Payments (FOUR) leadership • Q1 2025

    Question

    Jeff Cantwell of Seaport Research Partners asked about the drivers behind the full-year guidance raise by vertical and for an updated view on the puts and takes for the Global Blue acquisition.

    Answer

    Taylor Lauber, President and incoming CEO, stated the guidance raise reflects confidence in international growth and the business's resilience, noting that a slowdown in international travel often boosts domestic travel, a net neutral or positive for Shift4. On Global Blue, he highlighted the cultural alignment and the business's proven ability to perform well through economic shocks by focusing on controllable factors like product experience.

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    Jeff Cantwell's questions to SQ leadership

    Jeff Cantwell's questions to SQ leadership • Q3 2024

    Question

    Asked about Block's Bitcoin strategy, seeking opinions on potential U.S. regulatory clarity, how Block might capitalize on it, the amount of Bitcoin on their balance sheet, and the potential impact of regulation on broader crypto adoption.

    Answer

    Jack Dorsey stated that regulatory clarity would be very helpful. Block's strategy remains focused solely on Bitcoin to create a native internet currency, which would accelerate their business. They aim to make it more accessible, secure (via Bitkey and mining), and usable. Amrita Ahuja added that Block holds just over 8,300 Bitcoin on its balance sheet.

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